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iinet ltd (IIN) Details

iiNet Limited provides Internet and telephony services to various residential, regional, corporate, and government customers in Australia. The company offers Internet solutions, such as business bundles, business national broadband network, naked DSL, mobile broadband solutions, ADSL broadband, VPN, fiber connections, and SHDSL that offers high speed connectivity. It also provides business desk phones, PSTN phones, and Voice over Internet Protocol systems, as well as business voice systems and SIP trunking solutions; mobile solutions, such as mobile phones, mobile fleet, mobile broadband, iiNet Microsoft Lync, and tablets; Website solutions, including domain names, Web hosting, Microsoft exchange, and online shopping solutions; cloud computing; and installation and support services. In addition, the company offers Internet Protocol telephony network solutions for hosted voice, cloud, Internet, VPN, and mobile. It supplies approximately 1.8 million broadband, telephony, Internet Protocol TV, mobile, and other services to approximately 950,000 broadband subscribers. iiNet Limited was founded in 1993 and is based in Perth, Australia.

iinet ltd (IIN) Key Developments

iiNet Ltd. Announces Earnings Results for the Half Year Ended December 31, 2014

Feb 18 15

IiNet Ltd. announced earnings results for the half year ended December 31, 2014. For the period, the company’s group revenue was up 11% to $547 million and underlying net profit after tax of $32 million. Underlying EBITDA was $97 million. Underlying net profit after tax was $32 million and underlying earnings per share was 19.5 cents, despite higher effective tax rate. Net operating cash flow was down to $58 million impacted by increased inventory for new mobile products launched late in the half and tech2 acquisition. Operating cash flows was $89 million compared to $101.3 million a year ago. Capital expenditure was $27.3 million compared to $24.3 million a year ago. Net debt (including IRU leases) was $382.7 million compared to $337.4 million a year ago. Return on equity was 18.3% compared to 18.3% a year ago. Net bank debt was $203.4 million compared to $207.4 million a year ago.

iiNet Limited announced the appointment of Michael Howard as Chief Financial Officer. Michael will commence with the company on 2 March 2015. Michael is currently employed as Chief Financial Officer of Officeworks Ltd. Prior to his appointment as Chief Financial Officer with Officeworks in 2007, Michael held senior financial and business planning positions at Bunnings and Coles Myer.

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